Vantage posted a net loss of US $1.3 million, swinging from net income of US $3.8 million a year earlier.
Gross margin narrowed 4.7 percentage points to 41.5%.
Net cash rose to US $8.9 million from US $5.9 million in March 2025.
Forward order book slipped to US $1.1 million from US $1.4 million.
Revenue per broker head fell to US $538,000 from US $583,000, citing market volatility and geopolitical headwinds with heavy impact across the Dubai desk.
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